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Home Business News

FG launches conditional cash transfer of N75,000 to 15million households

Aghogho Udi by Aghogho Udi
October 17, 2023
in Business News
President Bola Tinubu, transportation

President Of Nigeria (Bola Tinubu)

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President Bola Tinubu has formally launched the promised conditional cash transfer program targeted at 15 million households across the country who are billed to receive N75,000 within three months.

The formal launch of the program was held at an event to mark the International Day for the Eradication of Poverty.

The President was represented by the Secretary to the Government of the Federation, Sen. George Akume who said the current administration has strategized several means to tackle poverty in the country.

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  • Speaking on the theme of the event “Decent Work and Social Protection: Putting Dignity in Practice for All” the President reeled the steps his administration will follow to reduce the spread of poverty in the country.
  • He said, “My government will lead from the front in seeking to ensure that all Nigerians have opportunities for dignified work and sustained social protection,”

15million households to receive N75,000

Also speaking at the event was the Minister of Humanitarian Affairs, Dr. Betta Edu who said, 15million households across the country will get N75,000 within three months.

She added that an adequate verification process has been carried out to ensure the funds get to the deserving beneficiaries. The process includes getting their NIN, and BVN and ensuring their location is correct.

  • In her words, “Our President Bola Ahmed Tinubu has resolved that Nigerians would have both immediate short-term, medium-term or long-term interventions to cushion not just the effect of force subsidy or any economic shock but to ensure that we can pull Nigerians out of poverty while preventing mitigating against the humanitarian crisis that has led lots of Nigerians into being displaced or living below the poverty line”

Finance Minister and World Bank representative speak

The Minister of finance and coordinating minister of the economy, Mr. Wale Edun said the rate of poverty in the country was unacceptable to the President and reducing poverty remains the President’s number one priority.

The Representative of the World Bank to Nigeria, Shubham Chaudhuri noted that programs such as the conditional cash transfer have proven to be one of the most potent ways to assist vulnerable citizens against economic shocks.

  • In his words, “This aid is crucial in helping them overcome the initial period during which they might otherwise be compelled to make decisions with long-term consequences. For instance, these decisions might include reducing daily meals to just one or withdrawing their children from school. The type of cash transfer referred to as ‘shock-responsive cash transfer’ that is currently being implemented is utilized by countries worldwide to offer temporary relief in such situations.”

 


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Tags: Betta EduBola Tinubu
Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

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Comments 43

  1. Ayena Johnson says:
    October 17, 2023 at 7:35 pm

    Honestly,this is not the way out, it’s only a temporary measure, the money could have been diverted to infrastructure, boost private sector contribution to the economy. This will yied better dividend than conditional cash transfer which will worsen the present economic situation in the long run.

    Reply
    • res non verba says:
      October 17, 2023 at 10:02 pm

      I respectfully disagree. Social infrastructure spending is just as important as hard infrastructure spending in the form of roads, rail, etc. Take a look at Bolsa Familia in Brazil. which is also a conditional cash transfer program that this current government in Abuja might be keen on implementing.

      The Bolsa Família program in Brazil provides financial aid to families in poverty or extreme poverty, with benefits targeting households with monthly incomes below specified thresholds, and additional stipends for families with school-attending children and adolescents, pregnant women, etc.

      Eligibility requires updated registration in a public social register, adherence to income thresholds, and in some cases, compliance with education and health-related conditions such as school attendance and vaccination. For example, families supported by Bolsa Familia typically have maintain 75% school attendance rates for their children and have them fully vaccinated.

      It’s crucial to highlight that the term “conditional” is used purposefully. The funds should be distributed over an extended period and employed to encourage the development of human capital, especially for those on the farthest fringes of poverty. And once they are on their own two feet without need for further support, the benefits should end.

      Reply
  2. collins says:
    October 17, 2023 at 8:23 pm

    How can i apply for this golden opportunity? please help me

    Reply
  3. Alheri says:
    October 17, 2023 at 8:44 pm

    indeed, it is a forward thinking programmes if and only if, it is sincerely implement for vulnerable peoples across nigeria.

    Also, make the link or methods of application known for registration on time

    Reply
  4. Ahmed Adejumohbi says:
    October 18, 2023 at 5:25 am

    This is one of the ways a government could reach out to the extreme poor. Kindly help indicate how i can apply for this program. I can’t cope any longer with the present situation

    Reply
  5. Wagzy says:
    October 18, 2023 at 7:14 am

    How to apply for this please?

    Reply
    • Lawal-Odunaye Yetunde Rafiat says:
      October 18, 2023 at 1:47 pm

      Make the Link available please

      Reply
  6. oluwaseyi says:
    October 18, 2023 at 9:18 am

    The money that will be shared by the politicians and their supporters, for example, where is the palliative meant for the general public?, we only hear that FG releases palliative to states but never come across it.

    Reduction of petroleum price, cooking gas, diesel and dollar rate to 200naira is the only way to eradicate poverty in Nigeria.

    That is the only thing the govt. that mean business will do
    God save Nigeria.

    Reply
  7. Ukeme says:
    October 18, 2023 at 5:17 pm

    With the situation of things in this country what matters is a change in our reasoning great jobs people will make their money instead of 3 or 5 months stipend

    Reply
  8. Ollybliss9 says:
    October 20, 2023 at 9:53 am

    It’s well

    Reply
  9. Fatai ibraheem says:
    October 21, 2023 at 6:56 am

    Thanks

    Reply
  10. Midwest says:
    October 21, 2023 at 9:47 am

    Bola tinubu cant be thoroughly understood in this program of conditional cash transfer. What is the registration portal to enable participation? This is a big deceipt. They only want to create an avenue to disbursed cash into their families and political party members accounts and not to vulnerable nigerians as claim. Tell me if u are sincered. 09117260643 is my number and i will my details

    Reply
  11. Muhammad isah says:
    October 21, 2023 at 2:34 pm

    What is your indigenous

    Reply
  12. Josiah A. Ilori says:
    October 21, 2023 at 7:15 pm

    The program could work, if only those to implement it are sincere. My fear is that the enemies must have mapped out strategies to manipulate the funds to their advantage. President Tinubu is very sincere with this project, but the implementation is my fear. In the alternative, the billions that is meant for this project could as well be used to supplement the cost of essential commodities in the country. In passing, if the implementation is well supervised, it will have an immediate effect in reducing poverty..

    Reply
  13. Samuel David Hanson says:
    October 24, 2023 at 10:50 am

    May God help Nigeria

    Reply
  14. Michael precious says:
    October 24, 2023 at 4:31 pm

    How can I apply

    Reply
  15. Ishiyaku abdullahi says:
    October 24, 2023 at 4:53 pm

    How is the verification system?

    Reply
  16. Joshua says:
    October 24, 2023 at 9:48 pm

    How do I register, Pls help with the particular site

    Reply
  17. Mr olalekan ogedengbe says:
    October 27, 2023 at 10:54 pm

    I have a nuberber of 17 widows at my disposal who are waiting to be registered please contact me on my email so I can bring them to your reach. Thanks

    Reply
  18. Imurana Mohammed says:
    October 31, 2023 at 11:29 pm

    How can I apply

    Reply
  19. Iorfer Iorember Anadrew says:
    November 6, 2023 at 3:01 pm

    Very Good

    Reply
  20. Ishaq Muhammad says:
    November 7, 2023 at 8:11 am

    How can i apply

    Reply
  21. Amos says:
    November 8, 2023 at 3:11 pm

    May god have mercy for this country nigeria

    Reply
  22. Aminu says:
    November 9, 2023 at 2:57 am

    how can apply

    Reply
  23. Muhammad Mubarak Isa says:
    November 9, 2023 at 7:05 pm

    How can I register to this program?

    Reply
  24. Muhammad Mubarak Isa says:
    November 9, 2023 at 7:06 pm

    How can I apply for the program?

    Reply
  25. Ibenyenwa calista says:
    November 10, 2023 at 3:35 am

    How can I apply

    Reply
  26. Muhammad Aslam Isah says:
    November 11, 2023 at 1:42 pm

    Please help me I need money so that I can help my siblings

    Reply
  27. Zainab says:
    November 11, 2023 at 1:42 pm

    How can I apply pls help I really need it

    Reply
  28. Mohammed Abubakar says:
    November 12, 2023 at 7:07 am

    Am back to my

    Reply
  29. Meshak Ezekiel says:
    November 12, 2023 at 12:29 pm

    This is good news in Nigeria republic it makes us happy

    If such a great idea will take place then is good
    Wow I believe in Nigeria republic now

    Reply
  30. Saminu haruna says:
    November 13, 2023 at 3:45 am

    Please how can I apply this

    Reply
  31. tamunoiduabia orikarama says:
    November 15, 2023 at 2:12 pm

    It’s a welcome development, how can I apply.

    Reply
  32. Idris Usman says:
    November 17, 2023 at 9:37 pm

    I how to apply

    Reply
  33. Dallah Plangshak says:
    November 18, 2023 at 3:47 pm

    Soliciting for a financial assistance from the federal government Please.

    Reply
  34. Sohotret Plangnan says:
    November 18, 2023 at 4:01 pm

    Please help Nigerian with this fund

    Reply
  35. Auzai said u musa says:
    November 18, 2023 at 5:06 pm

    So nice

    Reply
  36. Bello ibrahim ardo says:
    November 19, 2023 at 6:07 am

    Pls how can apply this

    Reply
  37. Bello ibrahim ardo t says:
    November 19, 2023 at 6:11 am

    AGree

    Reply
  38. Muhammad Auwal says:
    November 19, 2023 at 11:51 am

    I wish you all the best thank you very much

    Reply
  39. Hussaini Ahmad Jelani says:
    November 23, 2023 at 11:34 pm

    I nee your help thanks

    Reply
  40. Iyalla odepeli says:
    December 4, 2023 at 10:56 pm

    Thanks

    Reply
  41. Obasi Ebuka Anthony says:
    December 25, 2023 at 1:48 pm

    Merry Xmas

    Reply

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